Stanford Federal Credit Union is headquartered in Palo Alto and is the 19th largest credit union in the state of California. It is also the 94th largest credit union in the nation. It was established in 1959 and as of September of 2019, it had grown to 202 employees and 71,816 members at 5 locations. Stanford Federal Credit Union's CD rates are 2X the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership in Stanford Federal Credit Union is open to anyone through membership in the Friends of Palo Alto Library or the Museum of American Heritage (membership paid through the credit union). Membership is also open to the following: (1) faculty, students and alumni of Stanford University; (2) employees of Sun Microsystems, City of Palo Alto, Facebook and over 200 area Select Employer Groups.
See current membership details
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Excellent local credit union for Stanford-affiliated individuals
Stanford Federal Credit Union (SFCU) has generally exceeded my expectations. I have a checking account there and they do not charge a fee for such accounts, nor do they have monetary minimums below which they will charge a fee. Additionally, they have excellent customer service. In the past when I have had my debit card number compromised, they were very helpful both in accurately spotting the fraud and in giving me a new card very quickly. Additionally, use of ATMs with my credit union debit card is fairly easy, since any major credit union ATM works. I have also deposited money in their CDs before and they usually offer above-market rate interest returns and are very easy to sign up for and to know when the CD time period has expired.
Racist And Discriminatory
I was approved for a personal On 1/23/19 from Stanford Credit Union. I was told what stipulations I needed to turn in before I can come down and sign loan docs. A loan officer by the name of Evelyn pulled me in a small office and was extremely rude and very discriminatory. Her tone and level of questioning was humiliating and plainly bias and discriminatory.
She then grabs her Director which I didn’t request. I tried to explain to the Director how I was treated from Evelyn which she could careless and fell upon deaf ears. I tried to explain my experience from beginning and she could careless about my experience or having my time wasted. She then to begin to make things worse. As I was trying to explain my issues with the service I received she basically called me a lair and then begin to assassinate my character.
She begin to raise her voice and tried to kick me out of the credit Union for simply voicing my displeasure with the service I received. I recorded the entire occurrence on my iPhone and will forward to the local media outlets.
Poor Customer Service, Harsh Early Withdrawal Penalty
You'd think a credit union located on campus at Stanford would be great. But no. Calls go into voicemail, email contacts are generic addresses and you can never seem to get the same person twice. Staff is frumpy and don't seem to care. If their app fails, they just shrug it off - try it tomorrow. Early withdrawal penalty for CDs over $100K is 365 days interest - worst I've seen. A good CD jumbo rate of 2.1% if your paycheck is deposited there (as of summer 2012). Campus office is rather busy, so Stanford students and staff are using this credit union, but I don't know why.
Data as of Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 13392 |
| Year Chartered | 1959 |
| Employees | 202 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.13% |
| Return on Equity - YTD | 11.33% |
| Annual Interest Income | $73.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $2.87B$2.52B |
| Loans | Q3 2019vs Q3 2018 | $1.96B$1.91B |
| Deposits | Q3 2019vs Q3 2018 | $2.23B$1.97B |
| Equity Capital | Q3 2019vs Q3 2018 | $280.3MM$242.9MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $14.1MM$11.4MM |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $729.00K$1.1MM |
| Real Estate Owned | Q3 2019vs Q3 2018 | $0$0 |